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Health Care Sector Update for 02/13/2017: ZSAN,PLX,AXON

Top Health Care Stocks

JNJ +0.43%

PFE +0.89%

MRK +0.60%

ABT +0.87%

AMGN -0.11%

Health care stocks were advancing Monday, with the NYSE Health Care Index rising about 0.4% while shares of health care companies in the S&P 500 were up 0.6% as a group.

In company news, Zosano Pharma ( ZSAN ) rallied Monday after the specialty drugmaker today said a 3.8-milligram dose of its M207 lead product candidate achieved both of its co-primary endpoints of blocking pain and bothersome symptoms in migraine patients two hours after transdermal injections during a recently completed late-stage trial.

According to the company, 41.5% of the patients in the 3.8-milligram arm had freedom from pain after two hours compared with only 14.3% in the placebo arm, while 68.3% of those patients also demonstrated freedom from their most bothersome symptoms versus 42.9% among patients injected with a placebo. The worst side effects reported were mild pain or redness at the injection site. A handful of patients also experienced some dizziness, Zosano said.

The 3.8mg dose also met secondary endpoints measuring freedom from pain after 45 minutes and one hour as well as durability of effect after 24 and 48 hours without any serious adverse events. The placebo-controlled study enrolled a total of 589 migraine patients at 36 U.S. locations and compared either 1.0-, 1.9- or 3.8-milligram doses of M207 with a placebo.

ZSAN shares were up almost 81% at $2.17 apiece, earlier jumping out to a nearly 127% gain and a session high of $2.72 a share, stopping just 11 cents shy of their 52-week high of $2.83 a share.

In other sector news,

(+) PLX, (+33.7%) Previews positive safety and efficacy data for plant derived alpha-Gal-A enzyme and its PRX-102 drug candidate in treating Fabry disease ahead of presentations this week at the WORLDSymposium industry conference.

(-) AXON, (-9.9%) Announces preliminary results from the first 11 patients in a phase II study of the company's nelotanserin drug candidate to treat dementia, observing beneficial treatment effect on the Unified Parkinson's Disease rating scale.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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